County Board Vote To Tap Into Reserves Blasted As 'Impulsive' By Will County Executive

JOLIET, IL — The office of Will County Executive Jennifer Bertino-Tarrant issued a press release Thursday, criticizing the Will County Board's vote to tap into budget reserves to resolve a $2.8 million deficit. County Board Republicans called a special meeting for Thursday to advance the cash reserves proposal after failing to identify cuts to balance the budget.

"As the County Board has presented no other reasonable path forward," Bertino-Tarrant said she will sign the approved budget amendment, but she is calling on members to take their roles as elected officials seriously.

“Many members today complained about the existing process, but it is their responsibility as the legislative body to develop and follow a process,” Bertino-Tarrant said. “Those who hide behind their lack of participation and understanding about the budget are abdicating their responsibilities as County Board members.

“By choosing to tap into reserves to fill a deficit they created, the County Board is acknowledging the reality that there are no easy cuts to be found in this budget,” Bertino-Tarrant added. “After reviewing the proposed budget for months, certain County Board members could not find any serious cuts, opting instead to rely on reserves to balance the budget. While this action will fill the shortfall, it would be reckless to rely on reserves to maintain county services in the future. I truly hope that this impulsive approach to budgeting doesn’t become a habit, as it would put our long-term financial security at stake.”

The proposal approved on Thursday relies on operational budget reserves to fill the budget deficit. The county maintains budget reserves to ensure stability during the fiscal year before revenue aligns with expenses. The budget reserve levels fluctuate throughout the year based on revenue, expenses, and timing of property tax payments.

“To be clear, using budget reserves as a fallback for failing to perform their responsibility is a bad idea. Relying on reserves to fill budget holes is a practice that will put our bond rating at risk if we continue to pursue it in the future,” added Bertino-Tarrant. “While some members promised spending reductions, the lack of a proposal to do so reflects that they understand we are currently living within our means in a tight budget year.”

County government has repeatedly maintained a high credit rating from respected national bond agencies, ensuring low rates on borrowing for long-term projects. Both Moody’s Ratings and S&P Ratings have applauded Will County’s stable reserves and have cautioned that relying on budget reserves for operational expenses could result in a lower credit rating being issued in the future, according to Bertino.